Walgreens Boots Alliance, Inc. (WBA) has reported 5.35 percent rise in profit for the quarter ended May 31, 2017. The company has earned $1,162 million, or $1.07 a share in the quarter, compared with $1,103 million, or $1.01 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $1,441 million, or $1.33 a share compared with $1,288 million or $1.18 a share, a year ago. Revenue during the quarter went up marginally by 2.10 percent to $30,118 million from $29,498 million in the previous year period. Gross margin for the quarter contracted 147 basis points over the previous year period to 23.72 percent. Total expenses were 94.96 percent of quarterly revenues, up from 94.80 percent for the same period last year. That has resulted in a contraction of 16 basis points in operating margin to 5.04 percent.
Operating income for the quarter was $1,517 million, compared with $1,533 million in the previous year period.
However, the adjusted operating income for the quarter stood at $1,914 million compared to $1,814 million in the prior year period. At the same time, adjusted operating margin improved 21 basis points in the quarter to 6.36 percent from 6.15 percent in the last year period.
Executive Vice chairman and chief executive officer Stefano Pessina said, "Our results this quarter continued to meet our expectations as strategic partnerships brought more patients to our U.S. pharmacies. This led to our highest reported quarterly retail prescription market share in the U.S. Our ongoing cost transformation program continues to bear fruit and we remain confident in the long term growth of our company."
For fiscal year 2017, the company expects diluted earnings per share to be in the range of $4.98 to $5.08 on adjusted basis.
Operating cash flow remains almost stableWalgreens Boots Alliance, Inc. has generated cash of $5,237 million from operating activities during the nine month period, up 0.93 percent or $48 million, when compared with the last year period. The company has spent $452 million cash to meet investing activities during the nine month period as against cash outgo of $1,961 million in the last year period. It has incurred net capital expenditure of $873 million on net basis during the nine month period, up 10.79 percent or $85 million from year ago period.
The company has spent $2,333 million cash to carry out financing activities during the nine month period as against cash outgo of $2,894 million in the last year period.
Cash and cash equivalents stood at $12,253 million as on May 31, 2017, up 272.32 percent or $8,962 million from $3,291 million on May 31, 2016.
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